Harte Gold explores strategic alternatives, credit facility amendments

Chicago, June 8 – Harte Gold Corp. has been granted a temporary reduction in the minimum liquidity requirement from BNP Paribas for its senior credit facility, according to a press release.

BNP has reduced the minimum liquidity requirement to C$4.75 million from C$10 million until June 30.

The company is working with BNP on additional amendments to its senior credit facility.

Additionally, Harte Gold announced that it is evaluating a broad range of alternatives focused on ensuring the company’s financial liquidity and to fund accelerated life-of-mine capital.

Scotiabank is assisting in generating and evaluating various financing and strategic alternatives with potential investors.

A number of interested parties have signed confidentiality agreements and have been provided with access to a virtual data room to conduct further due diligence of the company.

The company has also engaged a U.S. based debt advisor to evaluate potential debt financing solutions including, but not limited to, a refinancing of its senior credit facilities. This process is currently underway.

Earlier in the year, the company worked with BNP to reschedule amortization payments under the company’s senior debt facility, according to the Prospect News archive.

Harte is a gold exploration company based in Toronto.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.